Understanding Leasehold Finances for Residential Conveyancers

Introduction

Affordability and escalating costs are at the forefront of conversations., especially in the context of rising mortgage costs.

This virtual classroom seminar takes a look at understanding leasehold finances and the different liabilities that might arise during ownership of a leasehold flat.

The session will assist in identifying the key risks for those advising on a purchase, as well as spotting potential issues that might arise on behalf of a seller.

What You Will Learn

This live and interactive session will cover the following:

• Service charges: the basics
• The service charge framework
• Major works projects
• Reserve/sinking funds
• Building safety costs
• Future costs
• Understanding year end accounts
• Understanding the LPE1 pack information to calculate the total service charge liability
• Assessing the potential risks for a buyer
• Negotiating retentions during a conveyance
• Contractual obligations during a conveyance
• Dealing with seller arrears
• Troubleshooting after completion

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.